Title
Modeling Extreme Values Utilizing An Asymmetric Probability Function
Abstract
In this article, a new flexible probability density function with three parameters is proposed for modeling asymmetric data (positive and negative) with different types of kurtosis (mesokurtic, leptokurtic and platykurtic). Some of its statistical and reliability properties, including hazard rate function, moments, moment generating function, incomplete moments, mean deviations, moment of the residual life, moment of the reversed residual life, and order statistics are derived. Its hazard rate function can be either constant, increasing-constant, decreasing-constant, U shape, upside down shape or upside down-U shape. Seven classical estimation methods are considered to estimate the unknown model parameters. Monte Carlo simulation experiments are performed to compare the performance of the seven different estimation methods. Finally, a distinctive asymmetric real data application is analyzed for illustrating the flexibility of the new model.
Year
DOI
Venue
2021
10.3390/sym13091730
SYMMETRY-BASEL
Keywords
DocType
Volume
asymmetric data, hazard rate function, moment, different estimation approaches, simulations, nonparametric test
Journal
13
Issue
Citations 
PageRank 
9
0
0.34
References 
Authors
0
5